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Cristiano Ronaldo Chooses Water Over Coca Cola ‘Shaving Value’ From The Beverage Giant’s Shares

By John F. Heerdink, Jr.

Reportedly, Coca-Cola’s share price dipped by $4bn (£2.8bn) after Cristiano Ronaldo, captain of Portugal national football team removed two bottles of the carbonated drink in front of him as he sat down to speak to the media at Euro 2020 press conference ahead of  Group F opener against Hungary, and encouraged people to drink water. Coca-Cola’s share price dropped 1.6 percent almost immediately from $56.10 to $55.22. The market value of the company dropped from $242bn to $238bn, a decrease of $4bn.

Coca-Cola, one of the official sponsors of Euro 2020, replied on Tuesday with a statement that said “everyone is entitled to their drink preferences”, with different “tastes and needs”.

Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere. To learn more about The Coca-Cola Company (KO) and to continue to track its progress please visit the Vista Partners Coca-Cola Company Coverage Page.

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(Read Original Story: Coca-Cola loses billions in market value after Cristiano Ronaldo removes bottles and says ‘drink water’ in Independent)


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